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I. it A` 101169
<br />OE1FY Of 1R�T Roger M. Sullivan and
<br />THIS Dom► OF TRUST, anode this 10th dev of M a Lc h 1 g 8 6 by and wag N e r n i e c e E. Sullivan,
<br />wlimtoliTmVeddressis R.R.--Box 141A Doniphan. Neb. 68832 husband and wife,
<br />thr po "Trawl'); and tW,*X11N1f1L II= a IM ON~ N All A, whose wA tq address is 1101 12th Street, Aurora, Nebraska
<br />61111118, Mwein 'Ttustee "and "'AetNficisry •)
<br />FOR VALUAKE CONSIOLUTWN, inckolitg the odebtedness mdentified herein and the trust herein created, the receipt of which is hereby
<br />ac,, , , do Truster irreva,abtlr gnmilts, transfers, conitro, end assigns to Trustee, IN TRUST, WITH POWER OF SALE, for the benefit and
<br />:w,curity of lwwfnck ry, undo and subject to the terns mW cott kwits of this Deed of Trust, the red property desa'ibed as follows:
<br />the East Half of the Northeast Quarter (E2NE6)
<br />Township Nine (9) North, Range Nine (9), West
<br />County, Nebraska,
<br />the Northeast. Quarter of the Southeast Quarter
<br />(2), Township Nine (9) North, Range Nine (9),
<br />Hall County, Nebraska,
<br />of Section Two (2),
<br />of the 6th P.M., Hall
<br />AND
<br />(NE,SE4) of Section Two
<br />West of the 6th P.M.,
<br />AND
<br />the South Half of the Southwest Quarter (S2SW14) of Section Thirty —two
<br />(32), Township Nine (9) North, Range Nine (9), West of the 6th P.M.,
<br />Hall County, Nebraska, EXCEPT a tract of land conveyed to the State of
<br />Nebraska in Warranty Deed recorded as Document No. 82- 003223,
<br />Further Secured by Security Agreements Dated March 10th, 1986 covering
<br />Irrigation Equipment, Titled Vehicles, Farm Machinery and Equipment,
<br />specifically as listed on the Security Agreements.
<br />TOGETHER WITH, all rents, profits, royalties, income and other benefits derived from the real property; all leases or subleases covering the
<br />real property or any portion thereof, now or hereafter existing or entered into, and all right, title and interest of Trustor thereunder; allin-
<br />terests, estate or other claims, both in law and in equity, which Trustor now has or may hereafter acquire in the real property; all easements,
<br />rights -of -way, tenements, hereditaments and appurtenances thereof and thereto; all oil and gas rights and profits, water rights and water
<br />stock; all right, title ad interest of Trustor, now owned or hereafter acquired, in and to any land lying within the right -of -way of any street or
<br />highway adjoining the real property, any and all buildings, fixtures, improvements, and appurtenances now or hereafter erected thereon or
<br />belonging thereto, (herein referred to as "Improvement" or "improvements "); and any and all awards made for the taking by eminent domain
<br />or by any proceeding or purchase in lieu thereof, of the whole or any port of the real property.
<br />All of the foregoing estate, property and interest hereby conveyed to Trustee herein collectively referred to as the "Property ".
<br />THIS DEED OF TRUST SHALL SECURE:
<br />(a) The payment of indebtedness evidenced by Trustor's note of even date herewith in the principal sum of F o u r h u n d r e d
<br />thousand_ and no /100ths ---------- - - - - -- _---- - - - - -- Dollars (s 400,000.00 ),
<br />together with interest at the rote or rates provided therein, (herein, together with any and all renewals, modifications, and extensions thereof,
<br />referred to as the "Note ") both principal and interest on the Note being payable in accordance with the terms set forth therein, reference to
<br />which is hereby mode, the final payment of principal and interest, if not sooner paid and if no renewals, modifications or extensions ore made,
<br />due and Payable on January 1st, 2006
<br />(b) The performance of each agreement and covenant of Trustor herein contained; and
<br />(c) The payment of any sum or sums of money with interest thereon which may be hereafter paid or advanced under the terms of this Deed of
<br />Trust.
<br />(d) The payment of any future advances necessary to protect the security or any future advance mode at the option of the parties; and
<br />(e) The performance of an obligation of any other person named in this Trust Deed to a beneficiary.
<br />TO PROTECT THE SECURITY OF THIS DEED OF TRUST, TRUSTOR HEREBY COVENANTS AND AGREES AS FOLLOWS:
<br />1, ft mo* of hiendpl and b! -I. Trusts shall promptly pay when due the principal of and interest on the indebtedness evidenced by the
<br />Note, and all other charges and fees as provided in the Nate, ad the principal of and interest on any Future Advances secured by this Deed of
<br />Trust.
<br />2. Win me, of Tiele. Trustor is lawfully seized and possessed of good and indefeasible title and estate to the Property hereby conveyed and
<br />has the right to grant and convey the Property; the Property is free and clear of oil liens and encumbrances except liens now of record; and
<br />Trustor wilt warrant and defend the title to the Property against all claims and demands.
<br />3. kjdn a and Ceghiena wilt Lure. Trustor slob keep the Property in good condition and repair and sholl not commit waste or permit
<br />impoirmerit or deterioration of the Property and shall comply with the provisions of any lease if this Deed of Trust is on a leasehold. No improve-
<br />ment now or hereafter erected upon the Property shelf be altered, removed or demolished without the prior written consent of Beneficiary.
<br />Trustor shots comply with all laws, ordutonces, regulation, covenants, conditions and restrictions affecting the Property and not commit, suffer,
<br />or permit any act io be done to or upon the Property in violation of any low, ordinance, regulation, covenant, condition or restriction. Trustor
<br />sholl co npiete or restore promptly and in good workmonlike moaner any improvement on the Property which may be damaged or destroyed and
<br />pay, when due, all claims for labor performed and materials furnished therefore and for any alterations thereof.
<br />1, bueiw la. Trustor, at its expense, will makdoin with inswors approved by Beneficiary, insurance with respect to the Improvements and
<br />personal property, costitutinng the Property, against loss by fire, lightning, tornodo, and other perils and hazards covered by standard extended
<br />coverage andorsemwnt, in on amount equal to at least one hundred percent of the full reploct+ment value thereof and insurance against such
<br />other hazards and in such amounts as is customarily carried by owners and operators of simwlor properties or as Beneficiary may require for its
<br />protection. Trustor will comply with such other requirements as Beneficiary may from time to time request for the protection by insurance of the
<br />interests of the respective parties. All insurance policies maintained pursuant to this Deed of Trust shall name Trustor and Beneficiary as in-
<br />sureds, as their respective interests may oppear. and provide that Owe stall be no cancellation or modification without no less than 15 days
<br />prior written ratification to Beneficiary. In if* event any policy hereunder is not renewed on or before IS days prior to its expiration date
<br />Beneficary may procure such insurance in accordance with the provisions of paragraph 1 hereof. Trustor shall deliver to Beneficiary the original
<br />*K*% of msaxacece and renewals thereof Of memo copies of such policies and renewals thereof Failure to furnish suth insurance by Trusor or
<br />renewals as r* cared hereunder sholl, at the option of Beneficiary, constitute a default.
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